Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Thursday, 21 June 2018

Manhattan Middle-Market Broker, Eastern Consolidated, to Close Next Month

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Commercial Real Estate Direct Staff Report

Eastern Consolidated, a New York brokerage firm founded in 1981, is closing down operations at the end of July.

The decision to close came after the company evidently received an unsolicited offer. It then hired an investment bank to help it evaluate that offer and solicit others. All the offers it received, however, came with terms that the company's founders, Peter Hauspurg and Daun Paris, said were not suitable to them. Hauspurg and Paris are married.

"After thorough and thoughtful consideration we determined that the best path forward is to wind down the operations of Eastern Consolidated," the two said in a statement. "This was an incredibly difficult and complicated decision to make."

The decision came as investment sales volumes in New York, particularly in the middle-market segment in which Eastern Consolidated focused, has declined. The company also handled retail leasing and capital-raising for clients.

Eastern Consolidated, which has about 100...





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“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Subject: Brokerage Firms-general (BROK), Mergers & Acquisitions (M&A)
  • Private: Yes
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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